Early this year, the results of a Success Attributes Initiative are set to be released to identify the characteristics and behaviors that are consistent with optimal veterinary practice performance and success. Veterinary Hospital Managers Association (VHMA), VetPartners, and the National Commission on Veterinary Economic Issues (NCVEI) are partnering to tackle the question: What makes some practices thrive and not others?
Christine Shupe, CAE, executive director of VHMA, says the main goal is to provide those practices that are not running as efficiently as they could be with the tools, resources and knowledge to manage their practices more efficiently and eventually become more effective and profitable. The first step of the joint initiative is to seek information via an online survey from veterinary practices.
Dick Goebel, DVM, immediate past president, VetPartners, says the key is to learn the differences between practices based on their profitability. It’s also important to pinpoint the specific characteristics of high-performing practices, Shupe adds.
The second step – validating results and conducting in-depth interviews with staff at these successful practices – gets underway shortly. Karen Felsted, CPA, MS, DVM, CVPM, CEO of NCVEI, says, “One key factor we hope to identify is what tools and resources can best be used to help a practice grow and succeed.”